Company Accounting

Company Accounting 10th edition has been thoroughly updated toreflect the various and ongoing reforms as a result ofAustralia s adoption of international nancial reportingstandards. This edition provides an authoritative and reliableoverview of the various changes required within the Framework and aselection of key accounting standards governing corporateentities.

The text will provide students with a comprehensive andpractical grounding in the practice and principles of companyaccounting. The 10th edition presents essential mustknow information on accounting for a corporate entity andthe requirements for externally disclosing the nancial position ofthe entity.

LEARNING FEATURES

Chapter opener outlines the chapter aim, learning objectivesand assumed knowledge for the chapter. Learning check supports chapter learningobjectives and summarises key concepts. Appearing throughout eachchapter, they are ideal for self–study purposes. Student activity section contains a chaptersummary, demonstration problems, discussion questions, casestudies, graded exercises and problems. Illustrative examples appear in all chapters and the inclusionof worked solutions will support student understanding ofprocedures and processes.

Wiley wishes you success in your accounting studies.

Preface xiv
Supplementary materials xv
Acknowledgements xvi

Chapter 1 Nature and regulation of companies 1

Chapter 2 Financing company operations 37

Chapter 3 Company operations 91

Chapter 4 Fundamental concepts of corporate governance155

Chapter 5 Fair value measurement 197

Chapter 6 Accounting for company income tax 237

Chapter 7 Financial instruments 297

Chapter 8 Foreign currency transactions and forwardexchange contracts 349

Chapter 9 Property, plant and equipment 395

Chapter 10 Leases 453

Chapter 11 Intangible assets 515

Chapter 12 Business combinations 567

Chapter 13 Impairment of assets 633

Chapter 14 Disclosure: legal requirements and accountingpolicies 687

Chapter 15 Disclosure: presentation of financial statements735

Chapter 16 Disclosure: statement of cash flows 799

Chapter 17 Translation of financial statements into apresentation currency 861

Chapter 18 Consolidation: controlled entities 905

Chapter 19 Consolidation: wholly owned subsidiaries 931

Chapter 20 Consolidation: intragroup transactions 991

Chapter 21 Consolidation: non–controlling interest 1047

Chapter 22 Consolidation: other issues 1109

Chapter 23 Associates and joint ventures 1177

Chapter 24 Joint arrangements 1237

Chapter 25 Insolvency and liquidation 1277

Appendix: Present value tables 1351

Glossary 1353

Index 1364

Ken Leo, BCom (Hons), MBA, has been an academic for over40 years, including 20 years as Professor of Accounting at auniversity in Western Australia. During this time, he has taughtcompany accounting to undergraduate and postgraduate students. Hehas been involved in writing books published by John Wiley since1981, and has also written books and monographs for otherorganisations including CPA Australia, the Group of 100 and theAustralian Accounting Research Foundation. He was a founding memberof the Urgent Issues Group, serving on that body from 1995 to 2001.He subsequently served on the Australian Accounting Standards Boardfrom 2002 to 2007, both as a member and as deputy chair of theBoard.

Jeffrey Knapp, BEc (Hons) (Macq), MPhil (UNSW), CA, is aLecturer in Accounting at the University of New South Wales.Jeffrey s background includes working in income tax (Coopers& Lybrand), technical consulting in financial reporting andaudit (Institute of Chartered Accountants in Australia), andteaching consolidation accounting (Macquarie University and UNSW).Jeffrey s strengths are his knowledge of accounting standardsand his forensic ability to uncover financial reportingirregularities. Jeffrey is one of Australia s most well–knownmedia commentators on financial reporting regulation andpractice.

Susan McGowan, BAcc (SAIT), MCom (UniSA), andGradCertEd(HigherEd) (QUT), is currently a senior lecturer in theSchool of Commerce at the University of South Australia. Herresearch interests focus on accounting education and academicintegrity.

John Sweeting, BEc, MEc, PhD, CPA, CA, was SeniorLecturer in Accountancy at Queensland University of Technology.John s background includes a mixture of academic and businesspositions. He has taught at Swinburne University of Technology andCentral Queensland University, and has spent time with the NationalCompanies and Securities Commission (now the Australian Securitiesand Investments Commission). John has also held positions with alarge international chartered accounting firm and a company listedon the Australian Securities Exchange. In addition to runningin–house courses for accounting firms, John has also conductedProfessional Development courses for CPA Australia and theInstitute of Chartered Accountants in Australia. He has also beenactively involved in both the CPA Program and the CA Program.